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Dec 28, 2012
12/12
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FBC
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defense contractors, private companies that work for the pentagon. one democratic congressman in virginia whose district may be hit hardest says it could mean layoffs. >> the large defense contractors will be okay. they have significant cash reserves, most of them. smaller contractors would have trouble getting their lines of credit extended, trouble keeping their employees if they can't be assured of continued employment. >> how did we get to this point? in the budget battles of 2011 these spending cuts were put in as an unthinkable trigger to force lawmakers to find a way to cut spending. so far they haven't done it so here we are. >> to make a particularly unpalatable the white house insisted on a coming out of the department of defense budget which many conservatives think is much too harsh and the president's on secretary of defense's would allow the military. deliberately designed to be an aggressive cut on thh military budgets so it wouldn't happen and that is the possibility that it will. >> the only way to avoid these cats being implemented
defense contractors, private companies that work for the pentagon. one democratic congressman in virginia whose district may be hit hardest says it could mean layoffs. >> the large defense contractors will be okay. they have significant cash reserves, most of them. smaller contractors would have trouble getting their lines of credit extended, trouble keeping their employees if they can't be assured of continued employment. >> how did we get to this point? in the budget battles of...
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Dec 28, 2012
12/12
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CNBC
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>> frankly, many of them do at the moment, because the pentagon has been very busy signing production contracts to get under the wire of the sequester. >> so, for instance, the general dynamics deal that was selling to the navy for the submarine, those funds are, in fact, protected. that's one example of a deal being signed under the wire to get it through? >> exactly. general dynamics got the ch and development money for the ohio class replacement. that's a $1.8 billion contract that will keep them busy for five years, on just the design of that replacement program. >> so in your view, are the stocks reflecting this? we have seen a sharp run-up in the stocks since the end of november, and more broadly, the philadelphia defense index is close to 52-week highs. >> well, i think that's right. i mean, part of it is cheap cost of money elsewhere. i mean, where else to invest in stocks, where your business is backed by the u.s. government, when you have yields that are two and three times what the five-year is trading at today. >> but there must be some sort of impact, howard. i mean, we w
>> frankly, many of them do at the moment, because the pentagon has been very busy signing production contracts to get under the wire of the sequester. >> so, for instance, the general dynamics deal that was selling to the navy for the submarine, those funds are, in fact, protected. that's one example of a deal being signed under the wire to get it through? >> exactly. general dynamics got the ch and development money for the ohio class replacement. that's a $1.8 billion...
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Dec 26, 2012
12/12
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CNBC
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where are we on the pentagon cuts? >> nobody wants those pentagon cuts, including the president of the united states. there may be some on the left who would favor that. but that's not a dominant position. that's not where the political center of gravity is in the country. i think it's very likely that those sequester cuts are going to be turned off. now, remember the sequester, $1.2 trillion over the next nine years. that's a little over $100 billion a year. so half of that is defense, half of that is discretionary. the kick the can mini deal solution that we're talking about would identify some subset of spending cuts that would be the lowest hanging fruit still available that might turn off the sequester, or they could just turn off the trigger all together. the sequester exists because of a law passed by congress, another law passed by congress could change it. >> good to see you, john. thanks for the update. >> mastercard spending pulse saying it's the lowest level of 2008. high end is one of the areas getting hit
where are we on the pentagon cuts? >> nobody wants those pentagon cuts, including the president of the united states. there may be some on the left who would favor that. but that's not a dominant position. that's not where the political center of gravity is in the country. i think it's very likely that those sequester cuts are going to be turned off. now, remember the sequester, $1.2 trillion over the next nine years. that's a little over $100 billion a year. so half of that is defense,...
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Dec 30, 2012
12/12
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FOXNEWSW
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. >> the only way to avoid the automatic $492 billion in cuts to the pentagon over the next nine years is for congress to make a deal in the next two days. harris? >> peter, thank you. fox weather alert now. a new headache for travelers. tonight a fresh storm system is pummeling the northeast. as you know much of the region and really the rest of the country are recovering from the winter storm that hit earlier in the week. this new round of weather bringing even more snow, freezing rain and strong winds already causing some flight delays and making the roads dangerous. meteorologist justin povik with the accu-weather. justin? >> harris, i tell you, we cannot catch a break across the northeast and the nation's midsection. not to leave out the west coast. they have been stormy and wet, especially around san francisco. the meat of the storm system has been targeting the ohio valley and the northeast, and the latest is doing its dirty work across the coastal sections. the i-95 corridor. the worst of the worst we will target boston over the course of the next three to four hours approachin
. >> the only way to avoid the automatic $492 billion in cuts to the pentagon over the next nine years is for congress to make a deal in the next two days. harris? >> peter, thank you. fox weather alert now. a new headache for travelers. tonight a fresh storm system is pummeling the northeast. as you know much of the region and really the rest of the country are recovering from the winter storm that hit earlier in the week. this new round of weather bringing even more snow, freezing...
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Dec 30, 2012
12/12
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FOXNEWSW
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. >> the only way to avoid the automatic $492 billion in cuts to the pentagon over the next nine years is for congress to make a deal in the next two days. harris? >> peter, thank you. fox weather alert now. a new headache for travelers. tonight a fresh storm system is pummeling the northeast. as you know much of the region and really the rest of the country are recovering from the winter storm that hit earlier in the week. this new round of weather bringing even more snow, freezing rain and strong winds already causing some flight delays and making the roads dangerous. meteorologist justin povik with the accu-weather. justin? >> harris, i tell you, we cannot catch a break across the northeast and the nation's midsection. not to leave out the west coast. they have been stormy and wet, especially around san francisco. the meat of the storm system has been targeting the ohio valley and the northeast, and the latest is doing its dirty work across the coastal sections. the i-95 corridor. the worst of the worst we will target boston over the course of the next three to four hours approachin
. >> the only way to avoid the automatic $492 billion in cuts to the pentagon over the next nine years is for congress to make a deal in the next two days. harris? >> peter, thank you. fox weather alert now. a new headache for travelers. tonight a fresh storm system is pummeling the northeast. as you know much of the region and really the rest of the country are recovering from the winter storm that hit earlier in the week. this new round of weather bringing even more snow, freezing...
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Dec 23, 2012
12/12
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MSNBCW
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as yet, president obama has made no nomination for secretary of defense to replace the pentagon chief, leon panetta. the short list is very short indeed, chuck hagel. the senator from nebraska. he's the front-runner to succeed panetta. at least conservatives are treating him that way and using the tactics they used against susan rice and on one detail, israel. he once warned of the intimidating influence of the jewish lobby and said this in a 2006 interview while in office. >> i'm a united states senator, not an israeli senator. i'm a united states senator. i support israel, but my first interest is i take an oath to the united states, not to a president, not a a party not to israel. >> i'm confused about what is controversial about that. hagel is criticized for a remark he made about an ambassador candidate he made in 1998 when he said james hormel was openly gay. hormel said he accepted the apology. chuck hagel hasn't been selected yet. given what happened to ambassador rice, the question becomes will the president get the cabinet he wants or settle for the cabinet he can get confir
as yet, president obama has made no nomination for secretary of defense to replace the pentagon chief, leon panetta. the short list is very short indeed, chuck hagel. the senator from nebraska. he's the front-runner to succeed panetta. at least conservatives are treating him that way and using the tactics they used against susan rice and on one detail, israel. he once warned of the intimidating influence of the jewish lobby and said this in a 2006 interview while in office. >> i'm a...
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Dec 22, 2012
12/12
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KTVU
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the cia, pentagon and senators have all been critical of scene that show hard interrogation techniques of suspected terrorists. they say information gained by torture did not lead to the capture and killing of bin laden. >> it's official now. mickey mouse is darth vader's boss. the deal is done. disney paid $4 billion in cash and stocks for the production company. sky walker sound, special effects company, industrial light and magic as well as video game maker lucas arts. >> anyone who loves to spend time at san francisco -- will want to make a visit. the museum is moving to pier15. the last day is going to be in it's current location on lion street will be january 2nd. it does as you may imagine take a lot of time to relocate so many exhibits so it'll not reopen in its new home until april 17th. >>> and it's already a happy holiday season for the oakland zoo, a donor gave them a million dollars. there are no restrictions on it. zoo executives call it is greatist gift they have ever received. it's especially welcome after last month's election when voters rejected a parcel tax to help
the cia, pentagon and senators have all been critical of scene that show hard interrogation techniques of suspected terrorists. they say information gained by torture did not lead to the capture and killing of bin laden. >> it's official now. mickey mouse is darth vader's boss. the deal is done. disney paid $4 billion in cash and stocks for the production company. sky walker sound, special effects company, industrial light and magic as well as video game maker lucas arts. >> anyone...